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News > Technology
Yahoo! acquires Viaweb
June 8, 1998: 12:41 p.m. ET

Internet giant buys developer of Web commerce tools for $49M in stock
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NEW YORK (CNNfn) - Yahoo! Inc. said Monday it has agreed to acquire Viaweb Inc., a privately held developer of Internet commerce tools.
     The $49 million acquisition is part of Yahoo!'s strategy to offer tools that allow small and medium-sized businesses to build, promote and operate online storefronts.
     Under the terms of the agreement, Yahoo! will issue approximately 455,000 shares of its common stock in exchange for all outstanding Viaweb shares, options and warrants. Yahoo! said it expects to incur a one-time charge of approximately $45 million in the second quarter
     The companies expect the acquisition to be completed by the end of June.
     With the Viaweb acquisition, Yahoo! on Monday launched the Yahoo! Store, which lets users create, publish and manage secure online stores.
     Yahoo! Store is based on the Viaweb Store service.
     Shares of Yahoo! (YHOO) gained 15/16 to 105-15/16 in midday trading.Back to top

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.